Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $44.3750.

A number of analysts have commented on EYPT shares. Guggenheim reiterated a “buy” rating and issued a $68.00 price target on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. HC Wainwright decreased their target price on Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Chardan Capital restated a “buy” rating and issued a $65.00 price target on shares of Eyepoint Pharmaceuticals in a research note on Friday, August 7th. Royal Bank Of Canada lowered their price target on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald lifted their price objective on shares of Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th.

Eyepoint Pharmaceuticals Stock Up 9.4%

Shares of NASDAQ EYPT opened at $14.75 on Monday. Eyepoint Pharmaceuticals has a twelve month low of $9.65 and a twelve month high of $19.11. The company’s fifty day moving average is $13.23 and its 200-day moving average is $13.71. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -3.94 and a beta of 1.76.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%.The company had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. On average, research analysts anticipate that Eyepoint Pharmaceuticals will post -3.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in shares of Eyepoint Pharmaceuticals by 2,158.3% during the 1st quarter. California State Teachers Retirement System now owns 105,101 shares of the company’s stock worth $1,355,000 after buying an additional 100,447 shares in the last quarter. Commodore Capital LP bought a new position in Eyepoint Pharmaceuticals in the 1st quarter valued at approximately $36,414,000. Simplify Asset Management Inc. raised its stake in shares of Eyepoint Pharmaceuticals by 314.9% during the fourth quarter. Simplify Asset Management Inc. now owns 375,264 shares of the company’s stock valued at $6,856,000 after acquiring an additional 284,824 shares during the last quarter. Walleye Capital LLC bought a new position in Eyepoint Pharmaceuticals during the 1st quarter worth $3,869,000. Finally, Stempoint Capital LP lifted its stake in shares of Eyepoint Pharmaceuticals by 129.1% in the first quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock worth $10,451,000 after acquiring an additional 456,915 shares during the period. Institutional investors own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.